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Drug development braces for AI revolution

Pharma IQ
Posted: 09/22/2017

Drug development is set to enter a dynamic new era as intelligent enterprise technologies – such as artificial intelligence, robotics and machine learning – allow pharmaceutical companies to bypass many of the sky-high costs that can hinder and delay the research and development process, according to a new deep-dive study by Pharma IQ

The report examines the role intelligent enterprise (IE) technologies – including AI, the internet of things (IoT, robotic process automation, machine learning and data analysis – within the future Pharma industry, looking at which providers are investing, which areas are not – and considering where opportunities might lie.

Almost 95% of the pharma professionals surveyed said they expected the impact of intelligent technological innovation to take hold in the wider drug development industry over the next three years.However, a lack of understanding and awareness about the benefits of AI-led technologies remain a hindrance to their implementation -- 40% of companies have yet to start.

Almost 95% of the pharma professionals surveyed expect the impact of intelligent technological innovation to take hold in the wider drug development industry over the next three years.

Concerns include organizations’ pressure to capture return on investment with these technologies and the inherent challenges involved in upgrading legacy systems.

The full report entitled ‘AI 2020: The future of drug discovery’ is being produced in association with AIIA.net, a new portal designed to help companies build the intelligent enterprise.

The report is part of IQPC’s cross-sector market study on the adoption of IE technologies, which includes deep-dive analysis of the oil and gas, defence and customer experience sectors.

Pharma IQ is now inviting potential partners to sponsor the report.

For sponsorship opportunities please contact Tim Lambert:

+44 (0) 20 7368 9408

tim.lambert@iqpc.co.uk

Pharma IQ
Posted: 09/22/2017